Equatorial Guinea has updated its Nationally Determined Contribution, pledging to conditionally cut its greenhouse gas (GHG) emissions by 35% in 2030 and 50% in 2050, compared to 2010 levels. The country previously aimed to conditionally reduce its GHG emissions by 20% in 2030 compared to 2010 levels. Theses goals are conditional to a US$943m international financing, including 577m for mitigation measures. Most notably, the government plans to build a 205 MW hydropower plant on the Wele river. Equatorial Guinea's installed capacity reached 349 MW at end-2020, with 167 MW of gas and 55 MW of oil.
In 2019, the country's gross GHG emissions stood at 17 MtCO2eq, with 61% for the energy sector and 37% for industrial processes. CO2 accounts for 96% of Equatorial Guinea's GHG emissions. Taking into account GHG emissions and removals from the land use, land use change and forestry (LULUCF) sector, the country becomes a net sink of GHG emissions.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.